Compared to last month and October 2022, the number of rentals in the general market was down about 5%. The number of luxury rentals increased 7% from last month but surged up 38% from October 2022. All rentals continue to receive almost full rental price, on average, but are taking longer to rent.
Rentals Available as of November 21
- 640 Long Term Available, 456 Rented in the Last 30 Days
- 42 Short Term Available, 8 Rented in the Last 30 Days
Long-Term Rentals Year-Over-Year: October2023 vs. October 2022
- 485 Rented, down 5.2%
- $2,500 Median Rental Price, down 5%
- 29 Average Days on Market, 3 Days Slower
- Received 99.8% of Rental Price vs. 99.7%
Long-Term Rentals Month-Over-Month: October 2023 vs. September 2023
- 485 Rented, down 5.6%
- $2,500 Median Rental Price, no change
- 29 Average Days on Market, 3 Days Slower
- Received 99.8% of Rental Price vs. 99.7%
Luxury Long-Term Rentals ($4,000+/mo) Year-Over-Year: October2023 vs. October 2022
- 61 Rented, up 38.6%
- $4,700 Median Rental Price, up 6.4%
- 38 Average Days on Market, 15 days slower
- Received 99.6% of Asking Price vs. 99.5%
Luxury Long-Term Rentals ($4,000+/mo) Month-Over-Month: October 2023 vs. September 2023
- 61 Rented, up 7%
- $4,700 Median Rental Price, up 6.8%
- 38 Average Days on Market, 5 days slower
- Received 99.6% of Asking Price vs. 99.7%
Highest Rented Single-Family Home
Diamond Head
4 bedrooms | 3.5 bathrooms | 4,000 sq ft living | 7,982 sq ft land
Why this property is spectacular: Totally rebuilt in 2004 with further upgrades as recently as 2022 the many features include ocean views from the second floor master suite and sitting room, fabulous gourmet kitchen, elegant baths, hardwood and travertine floors, charming covered lanai for alfresco dining, and sparkling plunge pool. Enjoy private gated access to coveted Diamond Head beach just six houses away on a private lane with just 14 homes.
Rented for: $13,750/month after 8 days on market.
Highest Rented Condo
Waiea, Kaka’ako
3 bedrooms | 3.5 bathrooms | 2,621 sq ft living
Why this property is spectacular: Luxurious finishes include a suite of Miele appliances, European cabinetry, Dornbracht fixtures, onyx walls, quartz countertops and wood floors throughout. Waiea is the ultimate luxury condominium in Ward Village with exceptional residential services & amenities including a concierge, sunset bar & lounge, infinity edge pool and hot tub, pool side cabanas, fitness center, private training room, golf simulator room, cinema screening room, library and so much more.
Rented for: $15,000/month after 55 days on market.
Source: State Tax Office & Bureau of Conveyances Picture from Honolulu Board of Realtors
We would be happy to answer any property management or real estate sales questions you have. Call us to schedule a private consultation at (808) 593-9826 or email concierge@caronb.com
